FastForward Innovations Ltd (LON:FFWD) confirmed it received £5.04mln from the sale of its entire stake in EMMAC Life Sciences to Curaleaf Holdings Inc.
The company had owned 6,666,667 ordinary shares and a £750,000 convertible loan note.
“We are pleased to note that all conditions in the sale of EMMAC to Curaleaf have been met and the transaction has completed,” said Ian Burns, chairman of FastForward Innovations, in a statement late on Wednesday.
“We are delighted to have made a significant return on our original investment in EMMAC.
“This will result in us being in an enviable position of having cash totalling in excess of £6.5mln, which we aim to invest in new exciting opportunities, principally within the highly active medical cannabis, cannabinoid wellness and life sciences sectors.”